Asked by Eboni Warren on May 08, 2024
Verified
Normally, businesses only dispose of property, plant, and equipment by either sale or exchange.
Property, Plant, Equipment
Property, plant, and equipment (PP&E) are long-term tangible assets that are used in the operations of a business and are subject to depreciation.
Disposal
The process of disposing an asset by selling, exchanging, retiring it, or by destroying it.
Sale
A transaction between two parties where the buyer receives goods, services, or assets in exchange for money or other consideration.
- Understand the methods and rationale behind disposing of property, plant, and equipment.
Verified Answer
Learning Objectives
- Understand the methods and rationale behind disposing of property, plant, and equipment.
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